At the end of this Forsage BUSD smart contract review, you will be able to conclude if this scheme is scam or legit and fully understand how it works.
2020 will surely be a year to remember. Many people, due to the pandemic and lockdown, found it very hard to survive.
Workplaces were closed, so streams of income for many families were obstructed.
Though those who worked in special fields, especially the healthcare industry were still pushing, the other masses had little or no source to do so.
As a result of this, almost everyone looked for other means to make money.
A popular saying goes thus; When one door closes, another one opens.
However, many people found it hard to open other doors during this period.
People thought of ways to make money, some were very much legal, while most were illegal.
Some of the illegal ones were not under the control of the government so they were hard to regulate.
The Evolution of Smart Contracts In Nigeria
Don’t mix it up yet! I haven’t said Smart Contracts are illegal. This is still an introduction. Before I tell you my view, you first of all have to know how all these came into place.
Amongst the many ways of making money that people looked for, few of them came across a system of recycling funds. This system was termed Smart Contract. But is it a Smart Contract? We’ll find out here.
Smart contracts are programs designed on a cryptocurrency blockchain, which ensures it performs certain operations without the aid of a third party.
You can simply say the system of recycling funds was built on a Smart Contract. So, do not get confused if I used the term “Smart Contracts” very often.
Smart Contracts were first built on the Ethereum (ERC-20) blockchain. The Bitcoin blockchain does not allow Smart Contracts hence the reason they can’t be built on it.
The first-ever smart Contract to be designed on the ERC-20 blockchain is the Forsage Ethereum. If you are very familiar with cryptocurrencies you should have heard of this.
Forsage was created by a Russian man named Lado Okhotnikov in the year 2020. Like I said earlier, Forsage Ethereum was built on the ERC-20 blockchain, therefore the Ethereum coin was used for transactions on it.
Before this Smart Contract program was about to be launched, the developer and his team reached out to marketers around the world and told them about it. This was how the news of Forsage got to Nigeria.
Since at the time, there were a lot of people finding means to make money from home, the idea was bought by many. They saw it as a way of making quick money. But, is it truly a way? We’ll find out soon.
A deep insight into Smart Contracts Like Forsage
Smart Contracts are direct substitutes for Pyramid Schemes.
A pyramid scheme is a fraudulent system of transferring wealth, whereby older investors are paid with funds gotten from newer investors.
This way, the number of investors keeps growing, hence it is called a Pyramid Scheme.
This is exactly how the so-called Smart Contracts work. Many people might try to sweet talk you that Smart Contracts are similar to Multi-Level Marketing (MLM), but they are different.
Multi-Level Marketing also involves the transfer of wealth but has to do with buying and selling of goods.
It’s just like getting someone to buy a product and taking your commission out of it. It is very different from Smart Contracts.
In Smart Contracts, you register as a downline to the person who registered you (your upline).
Whenever you complete your registration, a percentage of your money goes to your upline, when certain proportions are shared to other spots, depending on how the Smart Contract was designed.
In the year 2020, many people lost their hard-earned money to Smart Contracts, and only a few made money from it.
It takes a whole lot to make a whole lot from it. We can simply say the effort is directly proportional to the reward.
Many Social Media Influencers and WhatsApp TVs were promoting this Forsage Smart Contract without even having thorough knowledge about it. For a layman, I will simply describe Smart Contracts as referral programs.
You are sure to earn money if you are ready to bring more people into the system (directly under you). Do not be deceived by those who will promise you spillovers and overflows.
These two terms were used by many uplines during the Forsage Ethereum period. It was an empty assurance used to convince people to register under you.
The uplines assure you of Spillovers and Overflows. They say even if you don’t refer, you will still earn. How is that possible? It’s not like they distribute money on smart contracts.
Don’t misunderstand me. Spillovers and Overflows are real, but not assured, please. If you are about to be lured into any Smart Contracts with these terms, then you should run for your dear life.
If you are not ready to refer more people under you, get rid of all hope of making money on the system. It’s just like building castles in the air.
Forsage BUSD Smart Contract Review 2022
Fast forward to the present, they are here with a new smart contract, built on a different blockchain.
ERC-20 blockchain is known to involve high transaction fees.
This is one of the reasons many investors decided to pull out and invest in other cryptocurrencies with lesser transaction fees. An example of this is the Binance Coin (BNB) on the BEP-20(BSC) network or blockchain.
The name of this new Smart Contract is Forsage BUSD. Yes, it was also created by the same creator of the Forsage Ethereum, Lado.
After making billions of dollars from a lot of people, he is here again to pack more.
Unlike the former Smart Contract, which was built using a standard cryptocurrency (ETH) for gas fees, this new one will involve the use of a stable coin (BUSD).
Stable coins ensure your money does not fluctuate with the market. Therefore, they have the same value throughout and they do not increase or decrease with the market trend.
Is Forsage BUSD Smart Contract legit or scam?
I won’t be taking any side here. With the points I’ve mentioned in this article, I still won’t be calling Forsage BUSD a scam, even if they say so.
If you are ready to work for referrals, then you should have no problem with Forsage. I will not want to discourage you.
On the other hand, if you are not good and with referrals or convincing people to make money with you, then you should run far away from Forsage BUSD Smart Contract.
Can I register for Forsage BUSD, if I find it reliable?
Yes, you can. Absolutely! If you find it promising and reliable then nothing should stop you from registering.
Like I said earlier, it is a referral program, so have this in mind while registering.
When will Forsage BUSD launch?
Presently, I do not have any idea when this smart contract will be launched. The creator obviously, wants a lot of people to know about it before pushing it out. The more the awareness, the greater the registrations.
Forsage BUSD Smart Contract Registration
If you are interested in registering for the Forsage BUSD program, you should either visit the Forsage site or find an upline for yourself.
It is advisable to do the latter, so be or she can guide you on how to complete your registration and also put you through on how to use the program to your benefit.
Are you in support of BUSD Forsage?
No! I hate Smart Contracts in general. I am talking from experience.
Many of these uplines ensure your registration under them is complete, then they leave you to your dashboard.
If any person, claiming to be an upline promises you 100% attention and massive Spillovers, then you should see it as a red flag. You have to run.
However, even if I see Forsage as a way to make money for yourself, I will never advise anyone to partake in it.
I consider it as an automated Ponzi. Simply Robbing Peter to Pay Paul, under the guise of Smart Contracts.
Forsage BUSD might not be as successful as Forsage ETH was. People are now smart. Only those who profited from Forsage ETH and other Smart Contracts might go into Forsage BUSD again.
After the bitter experience that many people had with Smart Contracts in 2020. They will see it as something they shouldn’t go too close to.
If you have lost money to it, and you feel you might get tempted to register again, remove anything or anyone that promotes it. Consider the safety of your money before anything.